Arizona

Phelan Development Sells 141,117 SF Industrial Building in Mesa, Arizona

by Amy Works May 16, 2025

MESA, ARIZ. — Phelan Development has completed the sale of Phelan Pecos Center I—Building C, a 141,117-square-foot Class A industrial asset located at 8341 E. Pecos Road in Mesa. Emeryville, Calif.-based Libitzky Property Cos. acquired the asset for $29.4 million. Cyclic Materials is occupying the property on a brand new 10-year lease. Phil Handel, Will Strong, Foster Bundy, Molly Hunt and Katie Repine of Cushman & Wakefield’s Private Capital Group in Phoenix represented the seller in the transaction. Building C features a clear height of 32 feet, a heavy 6,000 amps of power, a private truck court with optimal loading capabilities, 28 dock doors, three grade doors, multiple access points, functional column spacing, full-building HVAC, LED lighting, ample parking and freeway and airport proximity.

May 16, 2025

Arizona Leasing Activity Restaurant Retail Western

Red Development, Globe Corp. Welcome Three New Retail Tenants to Goodyear Civic Square in Arizona

by Amy Works May 14, 2025

GOODYEAR, ARIZ. — A partnership between Red Development and Globe Corp. has signed three new retail tenants to Goodyear Civic Square (GSQ), its 150-acre mixed-use development located in the Phoenix suburb of Goodyear. Trader Joe’s will open a 13,500-square-foot store — the first in Goodyear — while Black Rock Coffee Bar will open a 1,460-square-foot drive-thru coffee shop. Additionally, Firebirds Wood Fired Grill will open a 5,658-square-foot standalone building that also houses a 700-square-foot outdoor patio. All new tenants are scheduled to open in 2026. The first phase of GSQ features a newly constructed city hall and library, 2-acre park, two parking garages, as well as office space. An outpatient medical building is currently under construction and a 132-room hotel is also planned for the development. Other tenants already open at the property include Bacchus Wine & Debauchery, BJ’s Restaurant & Brewhouse, Cheddar’s Scratch Kitchen, Copper & Sage, F45 Training, Harkins Theatres and Miyu Nails and Spa.

May 14, 2025

Arizona Build-to-Rent Loans Single-Family Rental Western

Tower Capital Arranges $79.5M Refinancing for Village at Bronco Trail Build-to-Rent Community in Phoenix

by Amy Works May 13, 2025

PHOENIX — Tower Capital has arranged $79.5 million to refinance an existing loan for the Village at Bronco Trail, a 354-unit build-to-rent (BTR) community in Phoenix. The sponsor, Scottsdale, Ariz.-based Empire Group, started construction on the project in 2023. Kyle McDonough, George Maravilla, David Stull and Noah Schott of Tower Capital originated the nonrecourse construction financing via a debt fund. Situated on 30 acres at 28th Avenue and Sonoran Desert Drive, Village of Bronco Trail will offer one-, two- and three-bedroom units with floor plans averaging 923 square feet. Each home will offer a private yard, kitchen with quartz countertops, stainless steel appliances and backsplashes, full-size washers/dryers and upgraded smart-home features and technology. Community amenities will include detached garages, a fitness center, car wash station, playground, dog park, grilling area, resort-style pool, clubhouse and common area open spaces.

May 13, 2025

Arizona Development Industrial Western

Brinkmann Constructors, Scannell Properties Complete 150,000 SF Manufacturing Facility in Mesa, Arizona

by Amy Works May 12, 2025

MESA, ARIZ. — Brinkmann Constructors, in partnership with Scannell Properties, has completed an industrial manufacturing build-to-suit facility in Mesa for Super Radiator Coils. The Minnesota-based company specializes in heat exchanger manufacturing and will use the facility to consolidate and expands its local operations. The 150,000-square-foot property features 45,000 square feet of Class A office space, 130,000 square feet of fully conditioned manufacturing floor space, 11 gantry crane systems, multiple gas process piping systems and a black ops assembly area with a cleanroom. Ware Malcomb served as architect for the project.

May 12, 2025

Arizona Build-to-Rent Development Single-Family Rental Western

Crescent Communities Breaks Ground on 125-Unit Build-to-Rent Community in Metro Phoenix

by Amy Works May 9, 2025

AVONDALE, ARIZ. — Crescent Communities has broken ground on HARMON Ascend, a build-to-rent multifamily community in Avondale. Situated on West Indian School Road, HARMON Ascend will feature 125 three- and four-bedroom, two-story townhomes featuring individual two-car garages. The property is slated to welcome its first residents in spring 2026. HARMOND Ascend will offer charcoal grills, green spaces, lawn games and more to foster community engagement. The project team includes Heitman LLC as account manager, Atwell and Kimley-Horn as civil engineers, BSB Design as architects and Mosaic as general contractor.

May 9, 2025

Arizona Development Mixed-Use Multifamily Restaurant Retail Top Stories Western

Creation, Horizon Break Ground on $120M Mixed-Use Project Near Phoenix

by Channing Hamilton May 9, 2025

QUEEN CREEK, ARIZ. — Creation, in partnership with Horizon Real Estate Ltd., has broken ground on The Switchyard, a $120 million mixed-use project in Queen Creek, about 40 miles southeast of Phoenix. The 10-acre project will feature 54,000 square feet of restaurant, retail and office space, as well as a 215-unit apartment community. The development’s restaurant lineup will feature Postino, a restaurant and wine café; Snooze, an A.M. Eatery, a breakfast and brunch restaurant founded in Denver; and Shake Shack, a modern burger chain. Creation states that lease negotiations are currently underway for most of the remaining spaces. The Switchyard will open in phases, with the first phase slated to deliver in mid-2026. Dallas-based GFF Design is the project’s architect, and LGE Design Build will lead the construction. “The Switchyard represents Queen Creek’s first true walkable, mixed-use development, marking a milestone in the town’s continued growth and evolution,” remarked David Sellers, co-founder of Creation. “With construction now underway, we’re eager to see this place come to life, seamlessly blending retail, dining, office spaces, apartments and a vibrant outdoor environment.” As part of the groundbreaking event for The Switchyard, the development team donated $25,000 to Ryan House, a nonprofit organization that …

May 9, 2025

Acquisitions Arizona Multifamily Western

TGM Acquires 296-Unit Multifamily Community in Chandler, Arizona for $90.5M

by Amy Works May 8, 2025

CHANDLER, ARIZ. — New York-based TGM has purchased Ocotillo Bay, an apartment property in Glendale, from an undisclosed national fund manager for $90.5 million. The transaction marks TGM’s entry into the Phoenix market. TGM Communities will manage the community, which has been renamed as TGM Ocotillo Bay. Built in 1997, the 296-unit property features two pool areas with cabanas and barbecues; an outdoor lounge area with a bocce ball court, fireplace, barbecue and covered seating area; a resident clubhouse with business center and TV seating area; and a fitness center with weight training and cardio equipment, as well as a separate yoga/spin room. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal.

May 8, 2025

Marbella-Northern-Parkway-Phase-1-Glendale-AZ

Arizona Development Industrial Western

Wespac Construction Completes 445,000 SF First Phase of Industrial Park in Glendale, Arizona

by Amy Works May 8, 2025

GLENDALE, ARIZ. — Wespac Construction has completed Marbella Northern Parkway Phase 1, a LEED-certified industrial development in Glendale. Developed by Panattoni Development Co. and designed by Ware Malcomb, the master-planned industrial park will offer six buildings spread across 51 acres. The first phase includes three tilt-panel buildings totaling 445,000 square feet. Each building features two storefront entrances and a north-facing speculative suite, as well as docking sides with automatic ramp-up doors, dock doors with mechanical levelers and designated semi-truck parking.

May 8, 2025

Acquisitions Arizona Office Western

Hazen Enterprises Sells Medical Office Building in Tucson, Arizona for $5.5M

by Amy Works May 7, 2025

TUCSON, ARIZ. — Hazen Enterprises has completed the disposition of a single-tenant medical office building located at 4881 Grant Road in Tucson. Elliot Bay Medical Properties Holdings III LLC purchased the asset for $5.5 million. Pain Institute of Southern Arizona fully occupies the 15,000-square-foot property on a long-term lease. Originally constructed in 2008 and renovated in 2024, the property includes 58 surface and 20 covered parking spaces. Travis Ives, Gino Lollio and Tyler Morss of Cushman & Wakefield’s U.S. Healthcare Capital Markets team represented the seller and Bryce Horner of Cushman & Wakefield | PICOR provided local advisory services for the deal.

May 7, 2025

Acquisitions Arizona Industrial Western

Camblin Steel Service Sells 20,400 SF Industrial Facility in Phoenix to Capitol Engineering

by Amy Works May 6, 2025

PHOENIX — Camblin Steel Service has completed the disposition of a freestanding industrial property in Phoenix to Capitol Engineering Inc., an owner/occupier, for $13 million. The buyer will relocate to the facility, which is situated on 11 acres at 1945 W. Broadway Road. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group in Phoenix, in partnership with Bryce MacDonald of the firm’s Sacramento office, represented the seller. Will Groves of Cushman & Wakefield’s Phoenix office represented the buyer in the deal. The 20,400-square-foot building features 14,400 square feet of flex space, 6,000 square feet of office space, four open production/manufacturing bays with overhead shelter and several overhead Kone Cranes. The property was initially built in 2005, with two of the bays constructed in 2013 and 2014. The warehouse features durable concrete tilt-up construction, ample parking for trucks and vehicles and a perimeter of secure fencing. The facility was formerly used as a state-of-the-art structural steel fabrication facility.

May 6, 2025

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